BECO Capital Secures $370 Million to Fuel MENA Startup Growth
UAE-based venture capital firm BECO Capital has announced the successful closing of two new funds totaling $370 million. This significant capital injection positions BECO to further support the burgeoning tech ecosystem in the Middle East and North Africa (MENA) region, particularly focusing on the UAE and Saudi Arabia. The dual fund strategy aims to provide comprehensive funding from the earliest stages of a startup’s journey through to potential IPO.
Investment Strategy and Focus Areas
The funding is split between a $120 million early-stage fund, BECO Fund IV, targeting Pre-Seed to Series A investments, and a $250 million Growth Fund dedicated to Series B to pre-IPO scale-ups. BECO, founded in 2012 by Dany Farha, Abdulaziz Shikh Al Sagha, and Yousef Hammad, has a proven track record of backing successful companies like Careem, Property Finder, and Kitopi. The firm plans to deploy this new capital into key sectors, including fintech, proptech, construction tech, consumer/retail tech, and AI/software. Amer Alaily will lead the Growth Fund, deploying an average of $20 million per investment into promising Gulf-based scale-ups, addressing a critical gap in growth-stage funding within the region.
With these new funds, BECO Capital’s assets under management (AUM) now exceed $820 million. This reinforces the firm’s commitment to providing stage-appropriate capital and strategic support to founders building globally competitive technology companies rooted in the Gulf region, furthering the growth and maturity of the MENA startup landscape.
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